World Demand for Cotton during the Nineteenth Century: Reply
Gavin Wright
The Journal of Economic History, 1979, vol. 39, issue 4, 1023-1024
Abstract:
Since writing “Cotton Competition,“ I have many times wished that I had never included the paragraph joining pages 632 and 633, since figures that were intended as no more than back-of-the-envelope confirmation of the econometric results have been cited as the central conclusions of the study. To make matters worse, the demand-shift formula was incorrectly applied, most seriously in the exaggerated decline in demand for American cotton between 1860 and 1870. For these reasons I am grateful to John Hanson for making these corrections and for giving me an opportunity to disown this particular halfdozen numbers.
Date: 1979
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